actually I read there is an overabundance of oil refineries in this country right now and their losing money hand over fist.
Several have even been shut down recently.
There hasn’t been a new refinery approved and built for more than 30 years. The refineries that we have are aging and closing. Because of the “boutique” gas blends required in many parts of the country, we have a severe shortage of refining capacity. THat is the excuse for not drilling — no place to refine it.
All we need is another couple of hurricanes in the Gulf, and we’ll be looking at $8/gallon gas. Of course the Dems think that $10/gallon is OK.